Rovi Corp. (ROVI) Trading 5.8% Higher
Rovi Corp. (NASDAQ:ROVI)’s share price traded up 5.8% on Monday . The stock traded as high as $21.45 and last traded at $20.80, with a volume of 1,348,863 shares trading hands. The stock had previously closed at $19.66.
ROVI has been the subject of several research analyst reports. B. Riley reaffirmed a “buy” rating and set a $29.00 target price on shares of Rovi Corp. in a research report on Wednesday, July 20th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $27.00 target price (down from $29.00) on shares of Rovi Corp. in a research report on Monday, August 1st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Rovi Corp. in a research report on Tuesday, May 3rd. Finally, Zacks Investment Research lowered Rovi Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, May 5th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.50.
The firm has a 50 day moving average of $18.51 and a 200 day moving average of $18.45. The stock’s market capitalization is $1.73 billion.
Rovi Corp. (NASDAQ:ROVI) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.08. The firm earned $125.20 million during the quarter, compared to analysts’ expectations of $119.31 million. Rovi Corp.’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 earnings per share. On average, equities research analysts forecast that Rovi Corp. will post $1.57 earnings per share for the current year.
In other Rovi Corp. news, insider Dustin Finer sold 2,391 shares of the business’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $15.70, for a total value of $37,538.70. Following the sale, the insider now directly owns 33,266 shares of the company’s stock, valued at $522,276.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Pamela A. Sergeeff sold 1,616 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $17.93, for a total value of $28,974.88. Following the completion of the sale, the executive vice president now directly owns 82,390 shares in the company, valued at $1,477,252.70. The disclosure for this sale can be found here.
Rovi Corporation powers entertainment discovery and personalization through product technology and intellectual property using data and analytics to monetize interactions across various entertainment platforms. The Company’s segments include Intellectual Property Licensing and Product. The Intellectual Property Licensing segment consists of interactive program guides (IPG) patent licensing to third party guide developers, such as multi-channel video service providers (cable, satellite and Internet-protocol television), consumer electronics manufacturers, set-top box manufacturers and interactive television software and program guide providers in the online, over-the-top video and mobile phone businesses.
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